Narayana Murthy's Venture Buys 3,02,682 Shares in This Small-Cap Multibagger Along with Madhusudan Kela’s Wife; FIIs Stake Hits Record High – Can This Be the Next Infosys?
Now, the question arises: Can this small-cap stock be the next Infosys?
Indian benchmark indices are trading lower on Thursday, January 9, 2025, as continuous selling by FIIs, along with the threat of elevated US Treasury yields and a new record low for the Indian Rupee against the US Dollar, gripped the domestic market.
FIIs were net sellers again on Wednesday, offloading shares worth Rs 3,362.18 crore. This brings the total net sales in Indian equities by FIIs in January month-to-date to Rs 11,931.91 crore.
Amidst this chaos, one stock has stood out, hitting an upper circuit: IRIS Business Services Ltd. A RegTech SaaS company, IRIS Business Services offers a comprehensive suite of technology-driven solutions that help businesses meet their regulatory compliance requirements in a cost-effective and efficient manner.
So, what has caught the market's attention about this stock, and why has it hit the upper circuit on Thursday?
The buzz is related to the company's updated shareholding pattern as of the quarter ending December 2024, revealing two prominent names.
The first name is Catamaran Ventures LLP, a private investment firm managing over $1 billion across strategic joint venture partnerships, private equity, public equity, and growth-stage venture capital. Catamaran was founded by Narayana Murthy, the founder and Chairman Emeritus of Infosys.
The second name is Madhuri Madhusudan Kela, the wife of ace investor Madhusudan Kela, who purchased 10,72,000 shares of the company. Meanwhile, Catamaran Ventures LLP acquired 3,02,682 shares. Furthermore, FIIs' holdings in this stock reached the highest level as of December 2024, standing at 1 per cent.
The stock has delivered multibagger returns of approximately 274 per cent in the past year.
Now, the question arises: Can this Small-Cap stock be the next Infosys?
Disclaimer: The article is for informational purposes only and not investment advice.